The services sector is not only the dominant sector in India’s GDP, but has also attracted significant foreign investment flows, contributed significantly to exports as well as provided large-scale employment. India’s services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction. The services sector is the key driver of India’s economic growth. The sector has contributed 54.17 per cent of India’s Gross Value Added at current price in 2018-19. India’s services sector GVA grew at a CAGR of 6.96 per cent to US$ 1,356.49 billion in FY19 from US$ 846.84 billion in FY12. Net export estimate from April to November 2019 in services is US$ 142.02 billion and import is US$ 89.24 billion. Services sector is the largest recipient of Foreign Direct Investment (FDI) in India with inflows of US$ 78.60 billion between April 2000 and September 2019. 100 per cent FDI for any regulated financial sector activity under the automatic route. In 2019, Indian Real Estate attracted more than US$ 5 billion Private Equity (PE) inflows. The Government has undertaken various steps towards boosting growth of the services sector. The government introduced ‘Services Exports from India Scheme’ (SEIS) aimed at promoting export of services from India by providing duty scrip credit for eligible exports. Under this scheme, a reward of 3 to 5 per cent of net foreign exchange earned is given for Mode 1 and Mode 2 services. Further, in the mid-term review of Foreign Trade Policy 2015-20, SEIS incentives to notified services were increased by 2 per cent. Also, the Government of India has identified 12 sectors under the Champion Services Sectors Initiative which is aimed at formulating cross-cutting action plans to promote their growth.